How do I report my estimated taxes paid when the IRS has not cashed the checks.

[kendaljim]

I paid estimated tax each quarter in 2017. The December check still has not cleared. It is almost the end of February 2018. How do I report estimated taxes paid? Do I put in the full amount; say $1,000 or just three quarters worth $750? Will I be penalized for not paying the full amount in 2017?

[CherylW · Accepted solution]

If you're a cash-basis taxpayer (as most of us are), you count the tax as being paid when you paid it.  So if you paid it in December of 2017, then you may take it as a 2017 expense, no matter if the check has been cashed by IRS.  That's still money that you didn't have.

Put in the full $1,000.  You have paid the full amount in 2017; make sure you keep any proof.